January 9, 2024

S&P 500 7 NASDAQ 100 / Elliott Wave Update 1/09/2024 by Michael Filighera

It may look like another “switch” around, but I’m following what the market appears to be telling us – also I have kept open all the possibilities as bizarre and impossible as they may seem at the time. Today, both the ES and the NQ finished or nearly so what is best viewed as 5 waves up – it brought up several possibilities that could play out. I do my best to present what is viable and could play out this week as we head into the start of earnings season. There also remains enough out there in the economic realm as well as the geopolitical realm to toss the markets into a tailspin or a gravity defying climb towards the moon. Let’s see what the markets will choose from day to day — Wednesday @10 AM EST – Wholesale Inventories.